Natera, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The New York Times published an article on January 1, 2022, questioning the accuracy of certain non-invasive prenatal tests (“NIPT”), including Natera’s NIPT, Panorama. The Times article claims that 85% of such tests are incorrect. Based on this news, shares of Natera fell sharply. The Campaign for Accountability then filed a complaint with the SEC on January 14, 2022, claiming that the Company misled investors about false positives and other problems with its tests. Based on this news, the Company’s stock once again dropped sharply.

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Discover Financial Services

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Discover belatedly disclosed in a February 26, 2020, regulatory filing that the Consumer Financial Protection Bureau (“CFPB”) was investigating it over its student loan servicing practices and its compliance with the Consent Order agreed to by the Company in 2015. Prior to this disclosure, the Company engaged in a multiyear campaign of assuring investors that its reforms were keeping it in compliance with the 2015 Consent Order. The Company consistently touted the effectiveness of its internal controls and other supposed improvements to maintain compliance with the CFPB. Based on this news, Shares of Discover fell 6.5% on February 27, 2020.

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Medallion Financial Corp.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Medallion is the subject of a complaint filed by the SEC on December 29, 2021, before market hours. According to the complaint, the Company and two of its officers attempted to reverse its falling stock price by engaging in various schemes. The SEC alleges that the Company and certain executives violated various provisions of federal law including antifraud, books and records, internal controls, and anti-touting rules. Based on this news, shares of Medallion fell by more than 21% on the same day.

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Astra Space, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Astra is the subject of a research report published by Kerrisdale Capital on December 29, 2021, titled: “Astra Space, Inc (ASTR): Headed for Dis-Astra.” The report alleges that: “Astra’s rocket launch projections are nonsense. No market analysis supports Astra’s planned 300+ launches by 2025.” The report adds, “post-merger cash on hand – originally touted as sufficient to fully fund the company until daily launch in 2025 – is now only enough to cover monthly launches in 2023.” Additionally, the report claims: “the seemingly mundane issue of finding somewhere to launch is a risk to Astra’s long-term vision because contrary to management’s oft repeated claim – Astra can’t launch from anywhere.” Finally, Kerrisdale Capital writes: “Recent M&A and a broadband constellation announcement smack of trying to run SpaceX’s playbook – but without any of SpaceX’s resources and without having first established basic launch reliability.” Based on this news, shares of Astra dropped by more than 14% in intraday trading on December 29, 2021.

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Summit Therapeutics Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Summit disclosed in an SEC filing on September 21, 2021, that it “received feedback from the United States Food and Drug Administration (the ‘FDA’) that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies [evaluating the Company’s investigational new drug ridinilazole] when combining the studies.” The Company’s shares dropped by more than 20% on September 22, 2021, based on this news. The Company announced via a press release on December 20, 2021, that “ridinilazole resulted in a higher observed SCR rate than vancomycin but did not meet the study’s primary endpoint for superiority.” Based on this news, shares of Summit fell by almost 48%.

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Ipsidy Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ipsidy is the subject of a research report published by White Diamond Research on December 16, 2021. The report alleges that the Company’s claims of being a “pure-play SaaS [software as a service] business” are misleading, as “[n]one of its revenues have been from its SaaS product . . . and 70% are from low tech, legacy businesses.” The report claims that the Company’s revenues “aren’t from its identity verification application” and that its “REAL businesses are of selling plastic cards in South Africa and leasing bus ticket kiosks in Colombia.”

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Tecnoglass Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Tecnoglass is the subject of a report by Hindenburg Research on December 9, 2021, titled: “Cocaine Cartel Connections, Undisclosed Family Deals, And Accounting Irregularities All In One Nasdaq SPAC.” Hindenburg alleges in the report that: “Our months-long investigation has included review of US and Colombian court records, securities filings, corporate registrations, property records, export records and media reports going back decades. We have identified serious red flags regarding management and numerous undisclosed related party transactions that call the company’s reported financial results into question.” Based on this report, shares of Tecnoglass fell sharply on the same day.

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Agrify Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Agrify is the subject of a report published by Bonitas Research on December 16, 2021. The report alleges: “We believe that Agrify created artificial demand for its product by financing undisclosed Company insiders to act as independent customers.” The report continues, “Agrify insiders lied to investors about the independence of its customer base in order to execute a dubious stock promotion for self-enrichment at the expense of minority shareholders,” and that “Evidence showed that five (5) of Agrify’s eight (8) customer announcements in 2021 are either with undisclosed Company insiders or with unlicensed unproven operators.” Based on this report, Agrify shares dropped sharply on the same day.

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Amplify Energy Corp.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Amplify Energy Corp. (“Amplify” or “the Company”) (NYSE: AMPY) for violations of the securities laws.

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Nuvei Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Nuvei is the subject of a short-seller report published by Spruce Point Capital on December 8, 2021. The report alleges serious inaccuracies in the Company’s claims of organic growth. The report claims: “we find evidence that between 2010 and 2018, the Company experienced practically no growth. Our research points to challenges in the North American market that engendered mid-double-digit organic revenue decline in 2020 and Nuvei’s push into Europe via acquisitions such as SafeCharge (2019) and Smart2Pay (2020).” Among other allegations, Spruce Point Capital claims that the Company’s executives and other associated figures come from questionable backgrounds. Based on this report, shares of Nuvei fell almost 41% in morning trading on the same day.

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